Business, Economics and Jobs

US unemployment at lowest level since 2008 (VIDEO)


Job applicants wait to meet potential employers at the NYC Startup Job Fair held at 7 World Trade Center on September 28, 2012 in New York City.


John Moore

US unemployment fell to 7.7 percent in February, the lowest level since 2008.

A burst of hiring added 236,000 more jobs to the US economy last month and cut the jobless rate by two percentage points from 7.9 percent in January, figures from the Bureau of Labor Statistics showed.

Unemployment is now at its lowest rate since December 2008, NBC News reported.

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According to the report, US job growth has averaged more than 200,000 jobs per month since November.

Wages are up, and the job gains were based across most industries, The Associated Press reported.

"That's what we like to see to tell us the recovery is broadening out," Beata Caranci, vice president and deputy chief economist at TD Economics, told CNN.

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Most economists agree it's all further evidence that the economy is getting stronger despite higher taxes and big cuts in goverment spending.

A couple not-so-good things: jobs need to grow faster to keep the jobless rate from rising again and a broader unemployment rate that includes discouraged workers fell by a smaller amount to 14.3 percent, according to the Wall Street Journal.